R&D tax credits are available both federally and at the state level to companies that bear the financial risk of developing new products or processes. In most states, the tax credit rate ranges from 5%–10%, but in Arizona the rate is 24%—topping even the maximum federal rate, 20%.
Every year companies leave thousands of dollars in potential credits unclaimed, working under the common misperception that R&D credits are only for high-tech, cutting-edge companies with dedicated scientists and laboratories. Companies in many industries can claim the credit, and in Arizona some businesses can even claim it as a refundable credit.
In this webcast, we'll cover what makes Arizona's R&D tax credit—particularly the refundable credit—so valuable, how your company can evaluate its projects for eligibility, and what you need to know to pursue the credit.